This past Friday(03/27/20) President Donald Trump signed a 2 trillion dollar stimulus relief package to help keep the economy going as the country fights the spread of Covid-19.
The American economy has been suffering since the Covid-19 virus has become a pandemic and has taken over 2K American’s lives. The relief package will help millions of Americans who have been affected by the virus.
After signing the bill President Trump said, “This will deliver urgently needed relief. We’re going to keep our small businesses strong and our big businesses strong”.
Prior to President Trump signing the bill Speaker of the House Nancy Pelosi said,”This cannot be our final bill”.
The bill addressed many current financial issues. Some of the highlight of the bill are:
- $1200 for individuals making $75K or less and $2400 for families making $150K or less
- Increasing the maximum unemployment insurance benefit by $600 per week
- $377 billion in loans to small businesses
- $180 billion to hospitals and the health-care industry
- $504 billion to distressed businesses and distressed sectors od the United States Economy
- $175 billion to state and local governments
The stimulus package is the largest in US history but congress has also indicated that there will be more to come if this doesn’t resolve the problem.